Global Arab Network | Oman food security strategy increasing local production

Translate this article to your language:

GANPublications

e-Publications

Add Site to Favorites

Add Page to Favorites

Make Homepage

Share This Page

RSS Feed

--------------------------------------------------------------------------------------------------------------------
| |

Oman food security strategy increasing local production

Sunday, 29 August 2010 22:27

Oman (Muscat) - Maqbool bin Ali bin Sultan, Commerce and Industry Minister pointed out that the Sultanate's food security strategy, which the government initiated its study , covers increasing the local production of food and strategic reserve and encouraging manufacture of food.

In the night which was held at Oman Chamber of Commerce and Industry (OCCI), Maqbool said that the study covers guiding the rational consumption culture by the citizens and looking into the foreign investments in agricultural sector in the advanced countries, studying the establishment of a holding company for agriculture investment, studying the implantation of wheat in the Sultanate. A work team led by Sultan Qaboos University makes the study. A technological food centre will also be set up in collaboration with respective authorities in India, in addition to, fish farming.

He added that the current plan includes the construction of 56 warehouses that cost RO.42 million, in addition to, the construction of wheat silos with capacity of 200,000 tons in Sohar and 100,000 tons in Salalah. He pointed out that the size of imports will increase in the coming years due to population growth and improved personal income.

He affirmed that the Sultanate has taken a number of measures to reduce the inflation in foodstuff through enhancing the role of the Public Authority for Warehouses and Food Reserves through the purchase of 200,000 tons of rice that will suffice for two years, providing subsidy for the wheat price through the flourmills , importing quantities of basic materials , constituting a committee for food security to measure the availability of basic food stuffs and enhancing the supervisory role to combat monopoly at the market.

He affirmed that there are many long term investment opportunities in the sector that should be utilized by the private sector, especially 30% of the family budget goes to the foodstuff.

He also said that Musandam Governorate will witness the emergence of some of the major projects, such as, the construction of two gas and power plants in the wilayat of Bukha and the study to construct a real estate company to be supervised by the Capital Market Authority
(ONA)

Global Arab Network

< Prev		Next >

Last Updated on Sunday, 29 August 2010 22:35

Add comment

The opinions of the authors in articles published are theirs alone and do not necessarily reflect the views of Global Arab Network
------------------------------------------------------------------------------
Published comments are the opinions of private individuals and do not reflect the views of Global Arab Network